At the time, my wife was a loan officer with one of the big banks and she was given the job to bring the bank into compliance with these regulations. She had to develop a system to gather all the information regarding applications for mortgages, listing approvals and rejections and race (*). She then had a large map of the banks market area and each application, showing whether approved or rejected was recorded. This was to show that the bank was not “Red Lining” certain areas.

The bank was audited by the Feds to make sure they made loans based on race and location whether the people qualified or not. Sick! Just throw out normal loan underwriting standards, make the loans and then sell them. As could have, and was expected, when enough of these accumulated in the system, it would collapse.

(*) Oh, the loan officers could not ask a person their race, it was illegal, so they had to guess. More government logic.